GBP/USD is showing a variety of trends

17 December, 2018

  • Prev Open: 1.26325
  • Open: 1.25996
  • % chg. over the last day: -0.58
  • Day's range: 1.25166 – 1.25996
  • 52 wk range: 1.2477 – 1.4378

GBP/USD is showing a variety of trends. The technical picture is ambiguous. The GBP/USD quotes are consolidating. The key support and resistance levels are 1.25700 and 1.26150. Investors wait for the relevant data regarding the Brexit process. Last week Theresa May failed to negotiate better conditions regarding the UK leaving the EU. You should look for market entry points at the key levels.

The Economic News Feed for 17.12.2018 is calm.

The price fixed below 50 MA and 200 MA which indicates the power of the buyers.

MACD histogram is in the negative zone but above the signal line which provides a weak signal towards selling the GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.25700, 1.25300, 1.24850
  • Resistance levels: 1.26150, 1.26800

If the price fixes below the local support 1.25700, expect further fall of the GBP/USD quotes. The movement will tend toward 1.25300-1.25000.

Alternatively, the quotes can grow toward 1.26500.


Source link   Presented by JustForex

GBP/USD remains capped below 1.2600

Manages to recover on broad USD weakness, weaker US rates. Bearish bias intact amid dovish Carney's speech and weak UK fundamentals...

GBP/USD remains vulnerable

The GBP/USD pair traded with a mild negative bias for the third consecutive session on Friday and extended this week's rejection slide from...

GBP risks losing further 5%

Now that United Kingdom traders are returning back to office following a public holiday, we should expect for the fallout from the Brexit Party's...


GBP/USD clings to recovery gains

A modest USD pullback from two-year lows helped bounce of multi-month lows. The recovery got an additional boost following the release of UK...

Pound went below 1.27 on Brexit fears

The British Pound descended deeper into the abyss this morning with prices falling below $1.27 for the first time since January 2019 as uncertainty...

Sterling struggles to nurse wounds

The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips...


Sterling edges down

There were no surprises in the Bank of England's policy decision today to leave interest rates unchanged at 0.75%. The real surprise was the bank...

Pound awaits latest Brexit outcome

With 2 days to go before the EU summit regarding Brexit developments, time is running out for the UK government to come up with a solution to break the...

Rebound appears capped near 1.3200

GBP on the back foot as Parliamentary is set to vote on alternative Brexit options. Awaits fresh Brexit clarity while May’s future also remains a key decisive...

  


Share it on:   or